What’s the difference between Annual, Capital, and Planned Giving
What is the difference between the Annual Fund, the “You Are the Light” Capital Campaign and Planned Giving?
- A pledge made on an annual basis
- Funds are used to continue the daily operations and effectiveness of the church and its mission
- The request is for a sustaining amount
- Involves a multi-year payment period (typically 3-5 years)
- Funds directed to a specific and predetermined area or areas of focus for the long term benefit of the institution
- The ask is usually greater than an individual or family’s annual contribution
- The commitment is often paid for out of one’s investments or other assets
Our annual campaign is conducted once each year, over several months beginning in September. The church’s leadership calls on each and every member of our parish to ask for their financial support over the coming year. Annual fund pledges are the primary vehicle for funding the church’s operating needs. Annual fund pledges account for ~88% of our overall operating budget, which covers salaries for our clergy and staff and expenses such as utility bills and maintenance expenses. Pledges to the annual fund ensure we can continue to provide essential programs and services in the year ahead. Note: Because an annual pledge relates to the church’s budgetary needs over the next 12 months, donors often pay for it out of their annual income.
The “You are the Light” Capital Campaign supports larger needs and objectives that cannot be funded within our annual operating budget. With the proceeds from this important initiative, the Chapel of the Cross plans to retire the debt we incurred when we built the new Parish Hall and expanded the rest of our facility in 2014; complete other needed renovations; and establish an endowment for creative/ innovative future programming. Pledges to the capital campaign are generally paid in in over a three to four year period. Such donations are typically paid out of one’s investments or other assets, rather than out of one’s income.
Planned Giving – Bequests and Deferred Gifts
Since its inception, the Chapel of the Cross has been buoyed by visionary leadership, by people who could see beyond the present, to imagine how the church could grow its mission well beyond our original, small chapel.
William Mercer Green, whom we think of as our “founding priest,” was the first of those visionary leaders. To honor him and his vision, the Chapel of the Cross established the William Mercer Green Society to recognize those who have made planned gifts to the church, as well as to educate those who are interested in supporting COTC ministries in perpetuity.
If you have already included the Chapel of the Cross in your will or estate planning, welcome to the William Mercer Green Society! Please contact the parish (email@example.com or 919-929-2193) for more information or to make additional arrangements in a confidential setting. While it’s not essential that you let the church know about your intentions to leave a bequest, that information is valuable for our long-term planning purposes.